According to a new market report published by Lucintel, the future of the global aerospace fastener market
looks promising with opportunities in commercial aircraft
, regional aircraft
, general aviation, helicopter, and military aircraft segments. The global aerospace fastener market is expected to reach an estimated $6.0 billion by 2021 at a CAGR of 6.0% from 2016 to 2021. The major drivers of growth for this market are increasing aircraft delivery, increase in demand for wide body aircraft, and introduction of new aircraft programs.
In this market, fasteners are made with aluminum, steel, titanium, and other materials (superalloy). On the basis of its comprehensive research, Lucintel forecasts that titanium fasteners and other fasteners (superalloy) are expected to show above average growth during the forecast period.
Within the aircraft type, commercial aircraft segment is expected to remain the largest market during the forecast period as commercial aircraft has the largest number of fasteners when compared to any other aircraft.
North America is expected to remain the largest region due to high demand for newer aircraft and replacement of ageing fleet. Aircraft fastener demand is directly proportional to aircraft delivery.
APAC is expected to witness the highest growth over the forecast period due to growth in aircraft manufacturing.
For business expansion, Lucintel’s report suggests new product development to provide better corrosion resistant properties, higher strength, and weight reduction. The report further suggests the development of partnerships with customers to create win-win situations.
Emerging trends, which have a direct impact on the dynamics of the industry, include increase in penetration of titanium fasteners due to compatibility with composite parts and increase usage of titanium bolts in areas where high strength is required. Alcoa, Precision Castparts Corp., Lisi Aerospace, Stanley Engineered Fastening, National Aerospace Fasteners Corp., B&B Specialities, Inc., and Trimas are among the major suppliers of aerospace fasteners.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global aerospace fastener market by aircraft type, material type and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Aerospace Fastener Market 2016-2021: Trends, Forecast, and Opportunity Analysis
.” This Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global aerospace fastener market by aircraft type, material type, and region, as follows:
By Material Type (Value ($ million) from 2010 to 2021):
• Aluminum fastener
• Steel fastener
• Titanium fastener
• Other fastener
By Aircraft Type (Value ($ million) from 2010 to 2021):
• Commercial aircraft
• Regional aircraft
• General aviation
• Military aircraft
By Product Type (Value ($ million) 2015):
By Region (Value ($ million) from 2010 to 2021):
• North America
• Asia Pacific
• Rest of World
Lucintel, the premier global Management Consulting
and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting
, M&A, and Due diligence
services to executives and key decision-makers in a variety of industries. For further information, visitwww.lucintel.com
. This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the aerospace fastener market by material type (Aluminum, Steel, Titanium, and Others), aircraft type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which product segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats of this market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q.11 What M&A activity has occurred in the last 5 years?